• Sales up 9.1% thanks to systematic focus on Europe
• Consolidated net profit rises by 16.3%
• Significant increase in dividend planned

Cologne, 14 August 2008 – OVB Holding AG (Prime Standard, ISIN DE0006286560) recorded consolidated sales (total sales commission) of €132.5 million in the first half of 2008, up 9.1% on the first six months of the previous year (€121.5 million). “In an environment of bad news and growing uncertainty in terms of future eco-nomic development, both in Germany and abroad, I consider these results to be extremely encouraging,” commented Michael Frahnert, Chairman of the Executive Board of OVB Holding AG, adding: “OVB remains on its growth path.”

OVB’s systematic focus on Europe made a significant contribution to the positive course of business in the first half of 2008. Sales growth in Central and Eastern Europe was particularly pronounced, with total sales commission in the region increasing by 16.3% year-on-year to €63.9 million (previous year: €54.9 million). In the Germany segment, sales were down slightly at €41.1 million (previous year: €42.5 million); this meant that OVB successfully absorbed the impact of the weak domestic market, which is providing little in the way of momentum for the indus-try as a whole. In Southern and Western Europe, OVB increased its total sales commission by 13.4% to €27.3 million (previous year: €24.1 million).

Earnings before interest and taxes (EBIT) remained essentially unchanged at €16.7 million, compared with €16.6 million in the same period of the previous year. This was due in part to Germany, where EBIT declined by around €0.6 million year-on-year, as well as to necessary expenses for the continued growth and success of the Group – for example, the successive introduction of the new “myOVB” cus-tomer relationship management (CRM) system, which will be a key instrument in ensuring the sales success and customer orientation of OVB’s financial consultants. EBIT development in the first half of 2008 was also impacted by a further increase in training costs and the expansion of the services provided by the Group’s grow-ing sales team. All in all, the consolidated EBIT margin for the first six months of 2008 amounted to 12.6%, compared with 13.7% in the first half of 2007 and 11.8% in 2007 as a whole.

At €14.2 million, net profit for the first six months of 2008 was up 16.3% or €2.0 million year-on-year. This development was driven by the continued tax opti-misation resulting from the profit and loss transfer agreement with OVB Ver-mögensberatung AG, which was approved by the Annual General Meeting on 3 June 2008. Basic earnings per share for the first six months of 2008 increased to €1.00 after €0.86 in the previous year.

OVB expects its business development to accelerate in the second half of the year and is reiterating its double-digit growth forecasts in terms of sales and earnings. Accordingly, the Executive Board will propose to the Supervisory Board that the dividend be further increased to between €1.25 and €1.35 per share.

The number of customers advised by OVB in 14 European countries rose by more than 183,000 or 7.2% year-on-year to 2.68 million. During the same period, the number of full-time advisors increased by 544 or 12.3% to 4,950.

About OVB Group
OVB Group, with its holding company headquartered in Cologne, is one of the lead-ing European financial sales organisations. Since the formation of OVB Ver-mögensberatung AG in Germany in 1970, customer-oriented consulting for private households in the areas of insurance coverage, asset building and appreciation, pension provision and real estate acquisition have formed the focus of OVB’s busi-ness activities. OVB currently advises more than 2.65 million customers across Europe, working in cooperation with over 100 renowned product partners. OVB is presently active in 14 countries, with some 4,900 full-time financial consultants working for the Group. In 2007, OVB Holding AG – which has been listed on the Frankfurt Stock Exchange (Prime Standard) since July 2006 – and its subsidiaries generated total sales commission of €246.2 million and EBIT of €29.0 million (2007 Annual Report).

OVB will publish its results for the third quarter on 18 November 2008.

Key figures for the OVB Group 6M/2008 

Key operating figures
		Unit		01/01 - 30/06/2007		01/01 - 30/06/2008		Change
Clients (30/06)		Number million		2.50		2.68		+7.2%
Financial advisors (30/06)		Number		4,406		4,950		+12.3%
New business		Number		267,600		297,230		+11.1%
Total saales commission		Euro million		121.5		132.5		+9.1%
Key financial figures
		Unit		01/01 - 30/06/2007		01/01 - 30/06/2008		Change
Earnings before interest and taxes (EBIT)		Euro million		16.6		16.7		+0.5%
EBIT margin*		%		13.7		12.6		-1.1%-pts.
Consolidated net income		Euro million		12.2		14.2		+16.3%
Earnings per share (undiluted)		Euro		0.86		1.0		+16.3%

* Based on total sales commission 

Key figures by region 6M/2008 
 

		Unit		01/01 - 30/06/2007		01/01 - 30/06/2008		Change
Central and Eastern Europe
Clients (30/06)		Number million		1.54		1.68		+9.1%
Financial advisors (30/06)		Number		2,406		2,930		+21.8%
Total sales commission		Euro million		54.9		63.9		+16.3%
EBIT		Mio. Euro		12.1		12.2		+1.0%
EBIT margin*		%		22.0		19.1		-2.9-pts.
Germany
Clients (30/06)		Number		675,100		690,200		+2.2%
Financial advisor (30/06)		Number		1,281		1,252		-2.3%
Total sales commission		Euro million		42.5		41.4		-2.6%
Brokerage income		Euro million		32.0		30.6		-4.2%
EBIT		Euro million		4.3		3.6		-14.6%
EBIT margin*		%		10.0		8.7		-1.3%-pts.
Süd- und Westeuropa
Clients (30/06)		Number		279,200		307,800		+10.2%
Financial advisor (30/06)		Number		719		768		+6.8%
Total sales commission		Euro million		24.1		27.3		+13.4%
EBIT		Euro million		3.8		4.1		+8.3%
EBIT margin*		%		15.7		15.0		-0.7%-pts.

* Based on total sales commission